Subex Limited has informed the Exchange about appointment of Secretarial Auditors of the Company
SUBEXLTD · price
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Subex Limited's board, meeting on May 2, 2025, approved audited results for Q4 and FY25 along with two auditor appointments. V. Sreedharan & Associates was named as Secretarial Auditor for five years (FY26–FY30), subject to shareholder approval. M.S.K.C & Associates LLP (a BDO India member firm) was appointed as new Statutory Auditor for five years starting from the 31st AGM, replacing S.R. Batliboi & Associates LLP whose term expires naturally. On the financial side, standalone FY25 revenue fell sharply to ₹168.81 crore from ₹269.01 crore in FY24, with a net loss of ₹49.78 crore. Consolidated FY25 revenue declined to ₹285.61 crore from ₹309.72 crore, but net loss narrowed sharply to ₹31.44 crore versus ₹191.73 crore in FY24, which had a one-time goodwill impairment of ₹147.95 crore. Q4FY25 standalone revenue was ₹66.27 crore with a net loss of ₹21.92 crore. An additional ₹16.89 crore impairment was taken on disputed trade receivables. Statutory auditors issued an unmodified opinion.
The auditor change is a routine rotation due to term expiry, not a red flag. However, the steep revenue decline in FY25 and continued losses remain a concern for shareholders; the improvement in net loss is largely driven by the absence of last year's large one-off impairment rather than a turnaround in core operations. Investors should watch the May 3 conference call for management commentary on revenue trajectory and recovery efforts on the disputed receivables.